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1969-4266r
i ~~ RESOLUTION N0, 4266 RESOLUTION AUTHORIZING TRANSFERS FRONj, IMPROVEMENT BONDS OF 1954 AND WATER UTILI`1'Y FUNDS TO IMPROVEMg'NT BONDS OF-1960 FUND AND REDUCING CERTAIN' AD VALOREM TAX LEVIES 28~ ~ WIi.EREAS9 Resolutions No, 2321, 2609 and ~FrB~ pr©vided for the sale of $6209000 Im~ provement Bonds of 1960 and provided f~~ taxes to be levied for the rea payment of principal and interest tYiereon9 and WHEREAS9 It appears desirable to cancel or reduce such ad valorem tax levies to be levied in 1969 to the extent that such reduction is possible by reason of transfers from the Improvement Bonds of 1954 Fund and the Water Utility Fund9 and WHSREAS9 There is presently sufficient funds available in the Improvement Bonds of 1954 Fund to pay all remaining .principal and interest on such bonds9 and WHEREAS9 Such transfer from the Improvement Bonds of 1954 Fund shall be from surplus monies not needed for the repayment of principal and interest in that fund9 and WHEREAS9 Such transfers shall be charged to the Water Utility Fund, NOW TH.SREFORE, BE IT RESOLVED by the city council of the, City of Richfield, Minnem sota9 as follows: 1° That the transfer and appropriation of $248496 from the Improvement Bonds of 1954 Fund to the Improvement Bonds of 1960 Fund is hereby authorized and directed, 20 That the transfer and appropriation of $19454 from-the Water Utility Fund to the Improvement Bonds of 1960 Fund is hereby authorized ~.nd directede 3o TZaat the amount to be levied in 1969 collectible in 1970 on Resolution No, 2321 in the-amount of $139200 is hereby cancellede 40 `Ihat the amount to be levied in 1969 collectible in 1970 on Resolution Noo 2609 in the amount of $109000 is hereby cancellede 5e 'Ih.at the amount to be levied in 1969 collectible in-1970 on Resolution Noo ~rS~ in the amount of $29750 is hereby cancellede a~~ 6o That a-copy of this resolution shall be sent to the Hennepin (;ounty Auditor, Passed by the council of the City of Richfield this 30th day of September9 19690 w' ~-~ Mayor Attest° ~~~- o°~~/ City Clerk ~~